Updated March 13th, 2024 at 15:25 IST

Tourism sector set for exponential growth, says Bookntravel Founder

The resilience, coupled with unprecedented growth in 2023, sets the stage for a formidable comeback fuelled by pent-up demand in 2024.

Reported by: Business Desk
Travel trends for 2024 | Image:Unsplash
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Amid changing and unpredictable climate, the travel and tourism industry has emerged as a strong force, driven by a surge in demand for hospitality services, bustling airports, and renowned travel destinations, Amit Jain of Bookntravel told Republic.

The resilience, coupled with unprecedented growth in 2023, sets the stage for a formidable comeback fuelled by pent-up demand in 2024 and beyond, Jain said. Recent reports indicate that the industry is set to make notable contributions to global gross domestic product (GDP) and employment by 2030, signalling a robust trajectory for the sector.

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Amit Jain further expressed confidence in the sector's continued growth and anticipating a sustained surge in demand from travellers. He highlights several compelling factors that are expected to drive the exponential growth of the travel and tourism sector in the coming years.

Jain identified a notable trend in the constant rise of spiritual tourism, which encompasses activities such as meditation retreats and visits to sacred sites.

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India's rich spiritual heritage, coupled with government initiatives to revive religious destinations, has fueled a surge in spiritual tourism, attracting visitors from around the world. “The trend is particularly pronounced among India's younger generations, with increasing demand observed in metros, mini metros, and tier 2 and 3 cities,” Jain added.

Moreover, travellers are increasingly drawn to unexplored destinations and adventurous trails, reflecting a growing appetite for novel experiences.

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Millennials, in particular, exhibit a willingness to explore new locations, driving diversification in India's tourism offerings. Government efforts to promote lesser-known destinations and enhance infrastructure contribute to this trend, aiming to boost foreign tourist arrivals and elevate India's position in the World Tourism Index.

Jain also stresses the enduring appeal of travel and the continued pent-up wanderlust among modern travellers. Despite challenges, travellers remain resilient and curious, seeking new adventures and cultural experiences. The unwavering desire to explore, coupled with advancements in technology, promises to fuel further growth in the sector.

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Additionally, the government's continued focus on infrastructure development, including the expansion of transportation networks and the development of tourist circuits, is expected to underpin the future growth of the travel and tourism sector.

Jain stresses the importance of collaboration between the public and private sectors to create world-class tourism infrastructure.

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Furthermore, technological advancements have revolutionised the travel and tourism industry, making it easier for people to plan and book trips. Mobile apps, online booking platforms, and travel-related websites offer convenience and accessibility, driving increased travel activity.

Lastly, the rise of disposable income and the growing number of millennials are key drivers of domestic tourism in India. With a burgeoning middle class and changing consumer preferences, the travel and tourism sector is well-placed for continued growth.

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Jain advocates for strategic redistribution of tourism across diverse geographies, fostering inclusivity and exploration beyond traditional hotspots.

“The resilience of the travel and tourism industry serves as a beacon of hope and a benchmark for other sectors, highlighting its potential as a key driver of economic growth, employment generation, and infrastructural development,” Jain asserted.

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Published March 13th, 2024 at 15:25 IST